I make these adds this morning to positions:
JNJ. I'm guessing fairly safe place to park money. Stock near lows, 3% dividend yielder with that dividend being raised every year. Otoh, revenue growth seems to have stalled.
FMC. Tad more for me as I follow in the several insiders who've been making purchases recently:
finance.yahoo.com
TCAP. A BDC with good history of distributions.
BEN. A bit more for me as stock falls. A somewhat positive article in this week's Barron's, fwiw:
Franklin Resources is an outlier, even among the depressed group of asset managers. Shares of the investment firm, which runs such giant funds as Templeton Global Bond and Franklin Income, are down nearly 30% this year, to $39, and trade for just 11 times projected earnings of $3.56 a share in the current fiscal year, ending Sept. 30.That’s the lowest price/earnings ratio among major traditional asset managers. Nonetheless, it effectively overstates Franklin’s valuation because the company is sitting on $9.8 billion of net cash and investments, or $16 a share. Strip out that cash and Franklin (ticker: BEN) trades closer to seven times estimated profit. ...Franklin, in particular, has been punished for several reasons: outflows, weak investment performance by key funds, conservative capital management, and control by the founding Johnson family. The family’s stake is held mostly by brothers Rupert Johnson, 75, and Charles Johnson, 82, who together own 34% of the shares. This prevents an unFranklin Resources is an outlier, even among the depressed group of asset managers. Shares of the investment firm, which runs such giant funds as Templeton Global Bond and Franklin Income, are down nearly 30% this year, to $39, and trade for just 11 times projected earnings of $3.56 a share in the current fiscal year, ending Sept. 30.That’s the lowest price/earnings ratio among major traditional asset managers. Nonetheless, it effectively overstates Franklin’s valuation because the company is sitting on $9.8 billion of net cash and investments, or $16 a share. Strip out that cash and Franklin (ticker: BEN) trades closer to seven times estimated profit. ...Franklin, in particular, has been punished for several reasons: outflows, weak investment performance by key funds, conservative capital management, and control by the founding Johnson family. The family’s stake is held mostly by brothers Rupert Johnson, 75, and Charles Johnson, 82, who together own 34% of the shares. This prevents an unfriendly bid for the company and deters activist investors who otherwise might target it. Franklin’s CEO is Greg Johnson, 54, Charles’ son. Indeed, the shares have proved to be a value trap amid disappointing earnings and continued outflows. |
